Klarssen Intelligence & Whisperto.us: My First Pivot
Klarssen Intelligence first started out as TryThisOut!, a market research firm specializing in tryvertising & sampling in universities & colleges, which later became the holding company of interactive video market research portal – Whisperto.us, which collects data on the choices users make as they go through a role-playing game/video.
WHY WE HAD TO PIVOT
We started to pivot because we realized that fast moving consumer goods companies, or FMCGs in Malaysia are largely only subsidiaries who are only interested in selling and marketing their products rather than gathering feedback on them or conducting market research.
INTERACTIVE VIDEO PORTAL
Hence, we tried pivoting into an interactive video portal that would help companies optimize their ads and gather feedback so they can better sell their products. We built a prototype of the platform and were in talks with telcos such as Digi & Celcom.
However, we soon realized that we would still be taking from their meager research budget rather than advertising budget, and we did not want to be pivot too much into a digital or advertising agency because we feel that that couldn’t be the next Facebook or Google and it wasn’t what we wanted to do.
Hence, after a couple more tries and 2 years of pivoting, we decided to liquate the venture and return all our investors their money, with interest, explain to them why we decided to liquidate, and thank them for believing in us right from the start and giving us this valuable opportunity to learn and build our dreams.
CONSTANTLY POSITIONING PRODUCT TO SUIT MARKET NEEDS
From this experience, I’ve learnt that business is all about positioning your product to suit a market need and keep innovating to do so as the market moves, and this was my first experience in doing so.
“Keep positioning your product to suit a market need…”